MANILA, Philippines — The media network of the Romualdezes is eyeing to acquire radio assets from tycoon Manuel V. Pangilinan, marking another broadcast expansion for the political clan from Leyte.
Nation Broadcasting Corp. (NBC) yesterday said it is in talks with Philippine Collective Media Corp. (PCMC) for the sale of its radio assets, subject to regulatory approval.
“The parties are in discussions for the transfer of NBC’s radio assets in favor of PCMC, subject to applicable regulatory approvals and other commercial terms,” NBC said.
For the meantime, NBC is signing a content licensing agreement with PCMC as their deal awaits regulatory checks. NBC, a subsidiary of MediaQuest Holdings Inc. under Pangilinan, is moving the station assignments of its news unit in preparation for the turnover of its radio assets.
As such, Radyo Singko True FM is leaving its longtime home 92.3, relocating to 105.9 in Metro Manila. It is switching out regional channels to 106.7 in Davao, 101.9 in Cebu, 101.5 in Cagayan de Oro, 99.9 in Ormoc and 104.7 in Tacloban.
Radyo Singko True FM hosts some of the most popular segments on radio including Wanted sa Radyo, Ted Failon and DJ Chacha, Sana Lourd, Heart 2 Heart, and Cristy Ferminute.
Apart from this, NBC is introducing a new pay TV channel, called True TV, airing on Cignal TV starting Nov. 4.
NBC general manager Raul dela Cruz said the company is consolidating its media units in True Network, its multi-platform strategy, which seeks to employ traditional and digital outlets to broadcast news and entertainment programs.
“We will support the momentum that we have built for True FM and develop new audiences on TV, podcasts and digital. Further, we want to establish a cohesive media presence across various platforms, centered on truthful, authentic and trustworthy storytelling,” Dela Cruz said.
Last week, PCMC secured a P531-million loan from Romualdez-led Prime Media Holdings Inc. Prime Media said it is lending that amount to PCMC for the acquisition of new assets to scale up its radio reach nationwide.
PCMC, headquartered in Quezon City, manages a number of radio stations across the Philippines under the Favorite Music Radio brand. It is owned by Speaker Martin Romualdez.
The largest investor in Prime Media, with a 42.76 percent stake, is RYM Business Management Corp., also owned by Romualdez, who is gunning for reelection as Leyte representative.